AP leads capex growth surge with 1,590 percent rise

Andhra Pradesh has emerged as the frontrunner in capital expenditure (capex) growth for the financial year FY24, posting a staggering 1,590 per cent increase in its capex. The State’s capital expenditure surged from Rs 1,138 crore in FY23 to an impressive Rs 19,240 crore in FY24, as per the data released by the Union Finance Ministry.

Telangana followed closely with a significant 175 per cent growth in capex, reaching Rs 42,327 crore in FY24, compared to Rs 15,380 crore in the previous year. The north-eastern state of Meghalaya also showed robust performance, with a 91 per cent increase in its capex, growing from Rs 1,693 crore in FY23 to Rs 3,236 crore in FY24.

Gujarat and Jharkhand were among the other states that posted strong capex growth. Gujarat saw a 63 per cent rise, with its expenditure climbing to Rs 51,425 crore, while Jharkhand registered a 45 per cent growth, with capex reaching Rs 15,989 crore in FY24.